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The Orchards Apartments

Kansas City, Missouri

Property

The Orchards Apartments is a 220-unit affordable housing property located in Kansas City, Missouri

Financing

$9,180,000 fixed rate tax-exempt bonds

Description

Red Stone acquired $9,180,000 of fixed rate tax-exempt multifamily housing bonds on a 220-unit affordable housing property located in Kansas City, Missouri. The Orchards was built in 2005 with proceeds from the bonds and equity from the sale of 4% low income housing tax credits. Red Stone’s purchase and restructuring of the bonds facilitated an acquisition of the general partnership interest and refinancing of the property.